SpaceX (NASDAQ: SPCX) shares rose about 2% in pre-market trading on Monday, as the company reportedly held discussions with EchoStar (NASDAQ: ECHO) about acquiring Boost Mobile or gaining access to its leased wireless network capacity.
The Washington Post reported that SpaceX has been negotiating with EchoStar in recent months over a potential arrangement to support its planned Starlink Mobile service. Elon Musk personally met EchoStar Chairman Charlie Ergen in October, according to people familiar with the discussions.
The talks could lead to a purchase of Boost Mobile or a separate network-access agreement, although neither company has announced a transaction or disclosed potential deal terms.
SpaceX plans to combine satellite connectivity with terrestrial cellular coverage to compete with established U.S. wireless carriers.
Boost Mobile Talks Follow Rejected Carrier Approaches
Verizon, AT&T and T-Mobile previously rejected SpaceX’s requests for direct access to their networks, according to the Washington Post.
Boost Mobile uses wireless capacity provided by AT&T and T-Mobile under network agreements. Buying the business could give SpaceX an established subscriber base and distribution network, while a separate access agreement could provide terrestrial coverage for Starlink Mobile.
EchoStar reported 7.38 million retail wireless subscribers as of June 30, 2026, primarily across Boost Mobile and Gen Mobile. The figure covers EchoStar’s broader retail wireless operations, not just Boost Mobile.
However, AT&T and T-Mobile could need to approve any transfer or modification of existing network-leasing arrangements. A Boost acquisition would not automatically guarantee SpaceX unrestricted access to those carriers’ networks.
Terrestrial coverage plays a particularly important role in SpaceX’s planned service because satellite connections can be less reliable indoors and in densely populated urban areas.
SpaceX also reached an agreement on October 8 to acquire Grain Management’s nationwide 800 MHz spectrum portfolio in a separate transaction reportedly valued at approximately $8 billion. The low-band frequencies can support satellite and terrestrial connectivity, including coverage inside buildings. The acquisition remains subject to approval from the Federal Communications Commission.
During its October 20 earnings call, SpaceX said it planned to deploy Starlink Mobile V2 satellites during 2027 and integrate its spectrum purchases to activate an expanded mobile service in early 2028.
SpaceX Stock Performance and Telecom Share Moves
SpaceX’s pre-market stock advance followed a 6.37% decline on Friday, when its Nasdaq-listed shares closed at $134.72. The stock fell approximately 8.7% over the five trading sessions ending October 30, leaving Monday’s early gain short of reversing that decline.
Separately, SpaceX Tokenized bStocks (SPCXB) was quoted at $137.63, unchanged over the preceding 24 hours, according to CoinMarketCap. The tokenized instrument is distinct from SpaceX’s Nasdaq-listed Class A shares.
Telecommunications stocks also moved in early trading. EchoStar gained about 3.4% in the premarket, while T-Mobile fell about 2%. AT&T and Verizon also traded lower.
SpaceX’s Existing EchoStar Deal Includes $11.1 Billion in Stock
The reported Boost Mobile negotiations follow an existing spectrum agreement between SpaceX and EchoStar valued at approximately $19.6 billion.
SpaceX’s October 22 quarterly filing with the Securities and Exchange Commission disclosed approximately $11.1 billion in equity consideration, payable through the issuance of about 261.8 million Class A shares at a fixed contractual value of $42.40 per share.
The remaining $8.5 billion would cover specified EchoStar debt repayments, with any portion not used for those repayments payable to EchoStar in cash. The allocation remains subject to contractual adjustments.
The final spectrum transfer to SpaceX is targeted for November 30, 2027, subject to closing conditions. The planned share issuance is also scheduled to take place at closing.
The $19.6 billion consideration covers the previously agreed spectrum acquisition, not the potential purchase of Boost Mobile. No price has been disclosed for the newly reported negotiations.
In September 2025, the companies announced plans for a future long-term commercial agreement that would allow Boost Mobile subscribers to access SpaceX’s next-generation Starlink Direct-to-Cell satellite service through EchoStar’s cloud-native 5G core.
That arrangement was announced alongside the original spectrum agreement, before the latest discussions about a possible acquisition or broader access to Boost Mobile’s terrestrial wireless service.